On Wednesday market open with some down side gap but lower level strong buying forces emerged across the market which is lead by Reliance Industries and finally it was able to closed above 10750 with a gain of 62 points. The same story in banking sector which is lead by HDFC Bank , Kotak Bank and ICICI Bank andalmost closed with a decent gain of 300 points. Inspite of that over all mix trend see in global market. However, some recovery and stability seen due to out of fever of War trade between China and USA smart recovery . On the other side, BSE Index also closed with a gain of 261 points. Gains seen in Metal, Auto, Bank, and Financal Stocks Now at this juncture 50 DMA are decent support have been established and higher level resistance of previous high 10930, once successfully crossover another leg of up side can not be ruled out

Nifty Spot :

As expected Nifty defend 10694 and 50 DMA and finally it was made a high 10781 and finallyclosed with a decent gained of 62 points. So what next. Further we may consider support 10750 and 10700 range and upper side resistance visible at 10830-10850 which is also a major supply zone and it is not easy task for bulls to permit bears. So just close eye today this level.

Stop loss for long 10694 and as remain above up side open towards 10970 and 11205. Likely.

Bank Nifty Future :

As mentioned yesterday Bank Nifty smartly hold 26200 and decent bounce back seen resulted it was able to closed above 26500 mark which is positive sign and clear indicate that it is not easy task to bull will loose their control . Consider holding above 26500 up side again open towards 26750 and above and major break through once it will move above 27000 thereafter 27750. On the down side decent support on intra day basis today visible at 26500 and 26381. Any sharp decline to buy side.

Consider stop loss for long 25895, as hold upper side open towards 26679, 27590-28225 in coming days.